Emerald Advisers LLC Purchases Shares of 726,489 Rush Street Interactive, Inc. (NYSE:RSI)

Emerald Advisers LLC acquired a new position in Rush Street Interactive, Inc. (NYSE:RSI) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 726,489 shares of the company’s stock, valued at approximately $9,967,000.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Rush Street Interactive by 14.0% during the fourth quarter. Vanguard Group Inc. now owns 8,596,434 shares of the company’s stock worth $117,943,000 after buying an additional 1,056,583 shares in the last quarter. Geode Capital Management LLC raised its holdings in Rush Street Interactive by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,736,259 shares of the company’s stock worth $18,843,000 after buying an additional 92,314 shares during the period. State Street Corp raised its holdings in shares of Rush Street Interactive by 3.6% during the third quarter. State Street Corp now owns 1,612,892 shares of the company’s stock valued at $17,500,000 after acquiring an additional 55,697 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Rush Street Interactive in the fourth quarter valued at $21,635,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Rush Street Interactive by 18.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 975,351 shares of the company’s stock valued at $13,382,000 after buying an additional 154,396 shares during the period. Institutional investors and hedge funds own 24.78% of the company’s stock.

Rush Street Interactive Price Performance

NYSE RSI opened at $10.95 on Friday. The company’s fifty day moving average is $13.38 and its two-hundred day moving average is $12.44. Rush Street Interactive, Inc. has a 52-week low of $5.71 and a 52-week high of $16.78. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -547.25 and a beta of 1.92.

Wall Street Analyst Weigh In

RSI has been the subject of several recent research reports. Wells Fargo & Company increased their price objective on Rush Street Interactive from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Thursday, February 27th. Susquehanna upgraded Rush Street Interactive from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $17.00 price objective on shares of Rush Street Interactive in a report on Thursday, February 27th. Macquarie reiterated an “outperform” rating and issued a $16.00 target price on shares of Rush Street Interactive in a research note on Thursday, February 27th. Finally, Jefferies Financial Group boosted their price target on Rush Street Interactive from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rush Street Interactive currently has an average rating of “Buy” and a consensus target price of $15.50.

Insider Activity at Rush Street Interactive

In other news, CEO Richard Todd Schwartz sold 4,419 shares of Rush Street Interactive stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.75, for a total transaction of $60,761.25. Following the sale, the chief executive officer now directly owns 2,392,587 shares in the company, valued at approximately $32,898,071.25. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kyle Sauers sold 28,381 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $10.70, for a total transaction of $303,676.70. Following the completion of the sale, the chief financial officer now directly owns 470,323 shares in the company, valued at approximately $5,032,456.10. The trade was a 5.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 988,545 shares of company stock worth $13,174,489. Company insiders own 56.89% of the company’s stock.

Rush Street Interactive Profile

Rush Street Interactive, Inc operates as an online casino and sports betting company in the United States, Canada, Mexico, and rest of Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services. In addition, the company offers full suite of games comprising of bricks-and-mortar casinos, table games, and slot machines.